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Mortgage Calculator

Monthly mortgage payment with tax, insurance and total interest.

Calculators Reviews Free · no sign-up

Other monthly costs

YearPrincipalInterestBalanceEquity

Monthly payment

—

Loan amount—
Loan to value (LTV)—
Principal & interest—
Total interest—
Total repaid—
Payoff time—

Quick Tool Overview

The Mortgage Calculator gives the monthly payment, the total interest over the life of the mortgage and the loan-to-value ratio, with property tax and insurance optionally added for the full monthly housing cost.

What it does
Calculates mortgage payments, total interest and LTV
You give it
A property price, deposit, rate and term
You get back
The monthly payment, total interest, LTV and housing cost
Best for
House buying, remortgaging and affordability checks
Calculators Free, unlimited use No sign-up Runs in your browser

About the Mortgage Calculator

Enter the property price, your deposit, the interest rate and the term to get the monthly payment, the total interest over the life of the mortgage and the loan-to-value ratio. Property tax and insurance can be added to give the full monthly housing cost.

Two figures deserve more attention than the monthly payment. The first is total interest, which on a long mortgage frequently rivals the amount borrowed. The second is loan-to-value, because it determines which rates you are offered, and crossing below a threshold such as 80 percent can move you into a materially cheaper band. The overpayment field shows the other side of the same coin: regular extra payments cut the term and the interest far more than their size suggests.

Key features of the Mortgage Calculator

Loan-to-value calculated

LTV determines which rates you are offered, and crossing below a threshold such as 80 percent can move you into a materially cheaper band.

Total interest surfaced

On a long mortgage the interest frequently rivals the amount borrowed, which the monthly payment hides.

Tax and insurance included

Add them to get the real monthly housing cost rather than just the loan payment.

Overpayment field

Regular extra payments cut the term and the interest far more than their size suggests.

Deposit modelling

Adjust the deposit and watch both the payment and the LTV band move together.

How to use the Mortgage Calculator

  1. 1

    Enter the price and deposit

    The calculator works out the loan amount and your loan-to-value ratio from these.

  2. 2

    Set the rate and term

    Enter the annual interest rate and the mortgage term in years.

  3. 3

    Add tax and insurance

    Optional, but including them gives the true monthly outgoing rather than just principal and interest.

  4. 4

    Try an overpayment

    See how many years and how much interest a regular extra payment would remove.

Frequently asked questions

It is the loan as a percentage of the property value. Lenders price by LTV band, so a lower ratio usually unlocks a better rate. Crossing below 80 percent is a common threshold.

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